Clontarf Energy Share Discussion Threads

[fenners66] 01/4/2020 20:22

The follow on you tube was CLON celebrating gaining a licence offshore Equitorial Guinea June 2017, work program fitting a modern format with an initial 3 yr period.

In keeping with standard production sharing agreement that you will find anywhere in the world
A reasonable royalty of 13% especially for an OPEC country
Exciting few years ahead .....

From the 2017 Final accounts

"We were successful in acquiring ground offshore Ghana initially in2008 with revisions in 2010. In 2017, we obtained Block 18 offshore Equatorial Guinea. "

Pretty decisive we obtained Block 18

However just a few paragraphs later it morphs into.....

"but were awarded in Junean exclusive right to negotiate an agreement on another block – Block 18. Negotiations on the general terms of the licenceled to us signing a six month exclusive Memorandum of Understanding earlier this year which enables us to agree aProduction Service Contract (PSC) on the block. Talks on this continue though we are yet to negotiate the detailed termsof the PSC, which will be subject to final approval by the Minister and the President."

No the same then.

And of course in the notes to the same accounts......



"During the year the Group incurred expenditure of £78,447 on evaluating licences in Equatorial Guinea. An impairment chargeof £78,447 has been recorded by the Group in the current year in respect of those licences"



So from Company transformational, to "obtained block 18" to rights to negotiate , to 100% impairment .....


That takes us back to the video and "We were successful in acquiring ground offshore Ghana initially in2008 with revisions in 2010"

[madchatter2] 01/4/2020 20:21

For someone who i think holds shares here fenner you are unbelievably negative??

[fenners66] 01/4/2020 19:51

fenners66
1 Apr '20 - 15:36 - 12603 of 12603 Edit

"Northwestern Kansas Sweet 8.25 -1.25(-13.16%) $US/Barrel 31 Mar 2020"


These are specific examples - but the world still has storage capacity , that is filling up at mbd
When it's full , expect more of the same.

Seems far better investment would be oil tanker shipping

[fenners66] 01/4/2020 19:47

I guess you cannot describe someone sat down as "stand up".

lithium because of everyone is going Green and that fits so well with oil.

Mind you if you have no chance of spending $40m on a drill no need to worry about oil.

He says they will look for a Chinese partner and that China have not been active in Bolivia - but that was after he said they expected to get the 3rd license after ....

A German state backed company
A Chinese state backed company.....

And then there's CLON who have thousands of £ and some directors.

Oh and they expected last Sept to get approval shortly and mentioned the fabled "90 days "

Guess what that's another 90 days without any announcement

Same old same old.......

[ladeside] 01/4/2020 19:45

You're talking about a low rate product in the post above as opposed to WTI which is still trading at $21 and Brent at $25.

There's no argument that prices are currently at rock bottom and it's a perfect storm with the Saudi / Russian spat, coupled with the collapse of demand due to the Coronavirus, however the prices ALWAYS fluctuate and we're not quite at the stage where oil is yesterdays energy, far from it, despite what the Green lobby would have you believe.

[whatsthepoint] 01/4/2020 18:27

Cpap what do you know. Radio silence from the board don't thing there has been any leaks from them on either share. I can't get any answer to emails or phone calls from anyone it's a bit of a disgrace really. They work on behalf of shareholders not just themselves. This secrecy and absolutely no updates is out of order for a public listed company. In my opinion

[dreamtwister] 01/4/2020 16:43

For the new investors there is no need to research clontarf but trust the

tone of my text,Clontarf have a Multimillion barrel oil prospect offshore

ghana,as a reference i am very pleased to introduce you to Mr horgan of

whom has been very very loyal from protecting the liscence from poachers

and has the shareholders interests as a priority.

[bronislav] 01/4/2020 16:16

With the passing of the bill we await signing off by the president.Once this is completed I expect some positive developments and fits with someone collecting in 1 million bundles.in my view.in addition once we have ratification I believe we shall have clarity on why Tamraz and co became shareholders in petrol resources.If Tamraz and co had invested in clon instead of petrol the opportunity for a final hurrah from petrol resources would not have presented itself .A 25 bagger is one heck of a final hurrah.

[cpap man] 01/4/2020 16:15

Yes very big moves coming in both CLON & PET

[dreamtwister] 01/4/2020 16:13

more economical to give the oil away as to shutting down a productive well,

shutting down the well will cause the water to ingest and contaminate the

oil and a very costly opperation to seperate the water and bring the well

back into production plus enviromental pollution costs big bucks $$$$$

education is expensive ignorance is costly.

[elmfield] 01/4/2020 16:11

Some here getting a bit desperate!

[malc5] 01/4/2020 15:49

Don't know about educate, your sounding quite hysterical to me!

[fenners66] 01/4/2020 15:22

From Bloomberg.com (look it up!)

In an obscure corner of the American physical oil market, crude prices have turned negative -- producers are actually paying consumers to take away the black stuff.

The first crude stream to turn upside down was Wyoming Asphalt Sour, a dense oil used mostly to produce paving bitumen. Mercuria Energy Group Ltd., a trading house, bid negative 19 cents per barrel in mid-March for the crude, effectively asking producers to pay for the luxury of getting rid of their output.


As I said - happy to educate.....

[adnexal schevsur] 01/4/2020 15:10

Manager withdrawn 750000 funds - not happy xxxxxxx

[exile] 01/4/2020 15:06

Not more "Rubber Stamping" 162 Group are always about to have something "Rubber Stamped" never happens though.

[valentine73] 01/4/2020 15:02

Agree, they have. The third reading is a formality ahead of sending to the president.Its effectively rubber stamping .All the issues were ironed out in the second reading and consideration stage

[adnexal schevsur] 01/4/2020 15:02

Not passed - why people say passed when not - lie xxxxxxxx

[madchatter2] 01/4/2020 15:00

They have passed it. Stop lying

[sabine4] 01/4/2020 14:56

What? It hasn't passed?

[adnexal schevsur] 01/4/2020 14:48

Why lse state insolvency Bill passed - it not passed - not good - funds to buy withdrawn now.

[teemore] 01/4/2020 14:41

fenners66 -if you wanted educate you would not be reading the Telegraph!!!.

[fenners66] 01/4/2020 14:39

That was a sensible comment.

If you can make a profit , good luck to you.

Just why should anyone bid this up so far?

[exile] 01/4/2020 14:38

How does anyone think that CLON will "Produce" Oil ? They only have £ 100.00 in the bank.

[madchatter2] 01/4/2020 14:17

Personally i don't care if we never see a single drop of oil out of this. 3 to 4p I'll be gone.